Can I trust some Internet company to calculate the sales price of my home in Telegraph Road?
Zillow is a billion-dollar Internet marketer that "gives" "z-estimates" that claim to figure the market value of every property in the United States. Zillow tries to reach this goal this feat by using a fancy logarithm which compares factors which affect home values, but here's a typical story I have heard from home sellers in Northern Virginia:
![Zillow Is Zillow accurate?](https://nesbittrealty.com/wp-content/uploads/2012/11/zillow.gif)
Our home was recently appraised for 650K. Zillow estimates the value at 521K. The estimate makes us one of the lowest priced homes in the subdivision. We have all upgrades in our home and it is the largest of the homes that were originally built in this subdivision. It was appraised at 750K before 2009. Our home has a basement. Neighbors do not have basement on one side and you appraised higher. Really? -- James E. - Fort Hunt
If you Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints by upset homeowners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Telegraph Road claim that Zillow's estimates have a margin of error of around 20%. Even if we assume the margin of error is only 10%, in Northern Virginia that means a "z-estimate" is only within $50,000 of the actual value. If the margin of error is an unlikley 5% that means that a z-estimate is only within $25,000 of the asking price.
Yet Zillow (for now) remains popular with some real estate shoppers. Property owners and real estate purchasers should understand that there is not a single community in Telegraph Road where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any computer at arm’s length. Putting too much reliance into a website can cause a great deal of disappointment.
Get in touch with one of our local experts today for a free comparative market analysis of your property's worth. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty Realtor will measure the unique variables which make up your real estate's ideal price.
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